DORC 14th and Callan Street Owner

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Each and every contract, deed, ground lease or other instrument affecting or conveying the Property or the Project or any part thereof, shall conclusively be held to have been executed, delivered and accepted subject to the covenants, restrictions, duties and obligations set forth herein, regardless of whether such covenants, restrictions, duties and obligations are set forth in such contract, deed, ground lease or other instrument. If any such contract, deed, ground lease or other instrument has been executed by Owner prior to the date hereof, Owner hereby covenants to obtain and deliver to City an instrument in recordable form signed by the parties to such contract, deed, ground lease or other instrument pursuant to which such parties acknowledge and accept this Agreement and agree to be bound hereby. 5.2 Owner agrees for itself and for its successors that in the event that a court of competent jurisdiction determines that the covenants herein do not run with the land, such covenants shall be enforced as equitable servitudes against the Property and the Project in favor of City. 6. Property. Management; Repair and Maintenance; Marketing. 6.1 Management Responsibilities. Owner shall be responsible for all management functions with respect to the Property and the Project, including without limitation the selection of tenants, certification and recertification of household income and eligibility, evictions, collection of rents and deposits, maintenance, landscaping, routine and extraordinary repairs, replacement of capital items, and security. Except as City may otherwise agree in writing, City shall have no responsibility for management or maintenance of the Property or the Project. 6.2 Management Entity,. Unless managed directly by Owner or an affiliate of Owner, the Project shall at all times be managed by an experienced management agent selected by Owner with demonstrated ability to operate residential facilities like the Project in a manner that will provide decent, safe, and sanitary housing (the "Management Agent") approved by the City, which approval shall not be unreasonably withheld, conditioned or delayed. 6.2.1 Performance Review. City reserves the right to conduct an annual (or more frequently, if deemed reasonably necessary by City) review upon 48- hours advance written notice, of the management practices and financial status of the Project. The purpose of each periodic review will be to enable City to determine if the Restricted Units are being operated and managed in accordance with the requirements and standards of this Agreement. The Owner shall use commercially reasonable efforts to cooperate with City in such reviews. 6.3 Repair, Maintenance and Security. Throughout the term of this Agreement, Owner shall at its own expense, maintain the Property and the Project in good physical condition, in good repair, and in decent, safe, sanitary, habitable and tenantable living conditions in conformity with all applicable state, federal, and Affordable Housing Regulatory Agreement — Centro Callan November 28, 2022 m1